Analysis Of China Stock Index Futures Contracts

Stock index futures contract design process in the introduction of stock index futures is the most important aspect of the success of its design is the smooth operation of stock index futures key. Stock Index futures contract is running under the status quo of China capital market design, and stock index futures in China is a new thing, stock index futures contract design and operation needs to continue to explore and improve. Learn from the experience of other countries and regions, combined with China's reality, China's stock index futures contracts designed to achieve both the hedge and should be followed to avoid systemic risk, to ensure that transactions between size and mobility to avoid the risk of increased transmission of information and complete price guide, to prevent price control and ensure the general principles of fairness, but also to maintain market stability, the service spot market, services to institutional investors and curb excessive speculation as design ideas. These principles and ideas for the design of our stock index futures contracts provide a useful guide, making the design of our stock index futures contracts and stock index futures are closely coincides with the launch of mind.China's CSI 300 Index futures contract is running has been more than two months, in the relatively stable performance during operation, this paper, a detailed analysis of their contracts, compared to other countries and regions, the design method of stock index futures, stock index futures contracts designed to identify our potential problems, including the market threshold is too high, lack of risk prevention, as well as speculative trading for futures and spot market transactions asymmetry. These potential problems, stock index futures contracts in our country's specific rules, proposed the design of the Stock Index futures contracts should increase China's stock index futures contracts of the type of mechanism to improve the price fluctuation limit and adjust the level of margin and fees and other aspects of comprehensive improvement of the standard. These measures will for the smooth development of China's stock index futures, for to explore a practice consistent with international markets, but also reflect the characteristics of China's stock index futures market at the present stage the development of the road, promoting the healthy development of China's capital market is of great practical significance.